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Alkhabeer Capital launches real estate fund

Alkhabeer Capital launches real estate fund
The fund’s primary objective is to generate returns from the rental income (Photo Credit: Arabianeye-Reuters)

Mubasher: Alkhabeer Capital announced on Tuesday the launch of its Saudi Real Estate Income Fund I, which is a close-ended private fund that will invest in income-generating residential properties in Saudi Arabia. 

This Shari’ah-compliant Fund was offered in line with the Investment Fund Regulations of the Capital Market Authority (CMA), according to a bourse statement issued on Tuesday. 

The fund’s primary objective is to generate returns from the rental income of a portfolio of residential compounds for families and individuals in Riyadh.

“We, at Alkhabeer, are keen to deliver income-generating opportunities with high-profile tenants to contribute to achieving the Fund objectives. The cumulative demand for residential compounds in Riyadh is expected to reach around 48,000 units by the end of 2019. Due to this growing demand, the residential compound sector presents a very strong upside potential over the long term,” CEO of Alkhabeer Capital, Ahmed Ghouth, said.